NG Energy International: Fueling Colombia’s clean energy transition

Natural gas has become an essential source of power generation, particularly on the Caribbean coast.  In an IHS Markit report released in March 2021, it revealed that the Andean countries (Colombia, Ecuador, Peru and Venezuela) would see an increase in gas demand from 54 million cubic meters per day in 2020 to 177 million cubic meters per day in 2050, an annual growth rate of 2.8%. But, Colombia is facing an energy crisis. The crisis results from the rise in electricity consumption, lack of reserves, declining production, weak infrastructure and the economic impact of the COVID-19 pandemic.